1. Smiths Group plc AGM 2009 | 1 Smiths Group Annual General Meeting 17 November 2009

2. Smiths Group plc AGM 2009 | 2 This presentation contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this presentation and the Company undertakes no obligation to update these forward- looking statements. Nothing in this presentation should be construed as a profit forecast.

3. Smiths Group plc AGM 2009 | 3 Introduction Philip Bowman, Chief Executive

4. Smiths Group plc AGM 2009 | 4 Financial highlights Reported results: Sales increased by 15% Headline operating profit up 10% - currency and recent acquisitions Excluding acquisitions and at constant currency: Sales declined 7% and headline operating profit fell 13% Challenging economic environment Significant improvement in cash generation Free cash flow up £165m to £256

5. Smiths Group plc AGM 2009 | 5 Reported sales down 2%; underlying sales down 17% Weak orders for ports and borders Exceptional military growth Transportation sales flat Better start to the new fiscal year Smiths Detection: Variable order flow has affected sales and margins

6. Smiths Group plc AGM 2009 | 6 Reported sales up 26%; underlying sales down 1% Second half slowdown in original equipment sales Orion bearings acquisition expanded addressable market Restructuring programme is on track Scope to expand margins in challenging environment John Crane: Improving margins while OEM orders have slowed

7. Smiths Group plc AGM 2009 | 7 Smiths Medical: Delivering operational improvements and better sales momentum Reported sales up 19%; underlying sales down 2% Pressure on capital budgets constrained hardware sales Single-use devices (80% of sales) have performed better Operational improvement – reduced back orders Increased R&D and expansion in China

8. Smiths Group plc AGM 2009 | 8 Smiths Interconnect: Good growth from military; wireless slower Reported sales up 22%; underlying sales down 5% Slower sales in wireless and connectors Military grew well with new contract wins Restructuring is starting to deliver benefits Expanding footprint in Asia with acquisition of Dowin

9. Smiths Group plc AGM 2009 | 9 Flex-Tek: Facing challenging markets; growth in aerospace Reported sales up 8%; underlying sales down 15% Pressure in US housing and household appliances Cost cutting helped sustain profit margins Aerospace sales performed better A lean business strongly leveraged to a recovery

10. Smiths Group plc AGM 2009 | 10 Smiths Group: A business in transformation 20052009 Sales£3.0bn£2.7bn Operating margins14%16% Cash conversion62%104% Return on shareholders’ funds11.2%16.5%

11. Smiths Group plc AGM 2009 | 11 Smiths Group: Opportunities to create value Delivering operational efficiencies Investing in future growth Cash generation

12. Smiths Group plc AGM 2009 | 12 Smiths Group Annual General Meeting 17 November 2009